Reports are coming in that indicate Facebook might be developing an application for smartphones that allows location tracking of users. The tip comes from two sources that spoke with Bloomberg claiming to be familiar with Facebook's plans. According to the sources, the app is scheduled for release by the middle of March and is intended to help Facebook users locate friends who are nearby.

The app will reportedly continue to track users even when the program isn't open on the smartphone. This new application will also be a platform that would allow Facebook to sell location-based ads. Facebook is always on the lookout for ways to squeeze more money out of its huge number of users.

CEO Mark Zuckerberg said during Facebook's earnings call late last month, "A lot of what we had to do last year was simply to improve our mobile development process. The next thing we’re going to do is get really good at building new mobile-first experiences."

Facebook's data policy already allows the company to use certain location-based information. The company's data policy says that it can use information "to tell you and your friends about people or events nearby, or offer deals to you that you might be interested in."

“When we get your GPS location, we put it together with other location information we have about you (like your current city),” the data use policy reads. “But we only keep it until it is no longer useful to provide you services, like keeping your last GPS coordinates to send you relevant notifications.”

FB is for sad pathetic people that have nothing better to do with their lives. I mean who really cares what someone does on the weekend, how boring must your life be if you find that interesting.

Plus you gotta be tapped in the head to allow FB full unfetterer permission to do whatever they want with your personal information. If you dont care then sell it, but to give it away for free its totally retarded!

FB is in the same league as Apple... strickly for people scared about not being included... then thats why is so popular most people are nothing more than mindless sheep.